UN Women EXPO Capital Quest at the 2024 EBAN Annual Congress

 Partnering with UN Women Europe and Central Asia to empower women led startups

During the 2024 EBAN Annual Congress we had the amazing opportunity to host the final leg of the UN EXPO in partnership with UN Women Europe and Central Asia. Brought together by the shared values of bringing gender equality to the startup ecosystem, we were able to provide a unique experience for women founders to pitch their ideas directly to investors during the congress.

On the pitching stage, EBAN Director Jacopo Losso gave out opening words, introducing the congress participants to the UN Women Europe and Central Asia team.  Nato Chakvetadze and Ana Pashalishvili, from UN Women Europe and Central Asia and Begüm Mutuș from Yildiz Holding, started the session by introducing the acceleration program and why it is integral to continuously advocate for women led startups and reduce inequalities on both sides of the Angel Investment ecosystem. After open words the floor was the startups that took part in the program. From the entire program 21 companies from different regions all over Europe and Central Asia were able to join the Congress. Of these 11 were selected to present their startups in front of a panel of judges who would determine the winner of the pitching session. With such amazing presentations the judges had difficulty choosing but ultimately decided on Shipsider as the winner with a special mention to Ozim Platform and LiveBoard.

To celebrate the cullmination of the EXPO Program a ceremony was taken place at the end of the congress. Each startup that took part of the pitching competition was awarded a certification to recognize the efforts and progess they have made leading up to the event. With the congress now over we have received stellar feedback from the group with the startups eagerly waiting for their next opportunity to pitch on stage.

“A great event with incredible opportunities and good organisation!”

TheaSmart

“Loved all the workshops and pitches that were presented at the congress. It was awesome!”

Maryco

This however was not the only contribution the UN Women Europe and Central Asia team made during the congress. Ana Pashalishvili was also invited to join a panelist workshop session on Pregnancy, Parenthood, and Term Sheets: A New Paradigm for Investors while she in turn was also going through maternity leave. During this session she discussed the importance of having well structured terms sheets when planning for parent hood as a woman founder. If you would like to read more on this session you can learn about challenges that were discussed here

This event is only the beginning of an ongoing partnership which aims to bridge the gap of gender disparity and bring to light talented female entrepreneurs from emerging regions. We are excited to see what is in store for the future as these startups have already joined the 1Million Startups ViennaUP event taking place in the Metaverse!

If you want to see more upcoming sessions like this then come join us at the European Angel Investment Summit in Brussels, Belgium on October 15 -16. Learn more about the Summit and get your tickets here:https://europeanangelsummit.com/

Presenting the startups that pitched during the 2024 EBAN Congress:

This year during the 2024 EBAN Annual Congress, in accordance with our EBAN Gender Community, we have showcased the premier workshop on Pregnancy, Parenthood, and Term Sheets: A New Paradigm for Investors. This session brought together our vice president, Selma Prodanovic, Daniela Haunstein from invest.austria, Ekaterina Gianelli and Lucanus Polagnoli from Calm/Storm, and Ana Pashalishvili from UNWomen for an in depth panel discussion dispelling the presumptions we have on parenting as an entrepreneur.

Here are the main takeaways presented in this workshop:

Pregnancy bias and what the challenges women have to confront as startup founders

The discussion started with the acknowledgment that in the startup world, angel investors need to be prepared to deal with situations for unexpected life altering events within the startups they are currently working with. These life changing events should also take into account the potential parental dynamics founders would be put under when having to balance their work and family life. Especially when it comes to pregnancy, the panel has agreed that it is integral for a startup founder to have a discussion with potential or current investors on including different forms of compensation, such as maternity leave, within the term sheets. These discussions are important and dispelling potential issues since due to the amount of pressure founders are facing, they often omit their pregnancy for fear that they may lose investments because of it. This bias extends further beyond founders as the panel talked about the persistent stigma that women would no longer be capable of providing the same professional output when they start building a family, when in fact it has clearly not been the case. Having these honest conversations with your startups will build further trust between the two parties. For founders it is also important for them to do their own due diligence with their investors to ensure that inherit biases such as the one mentioned are not ingrained in their way of thinking.

How parenthood affects the dynamics of an entrepreneur 

It is important to also take into consideration the entire family unit when discussing this issue. Though the focus is mainly given to the member of the family that is carrying the child to term, the panel gave key insights on the importance of managing professional and personal worklife balance. Though perceived by different cultures, the delegation of responsibility is a key factor in how a founder can help reduce biases within investors. Audience members during the workshop would give examples of how their country tackles paternity leave and how these programs affect this critical part of the child’s development cycle.

Tackling issues that are not usually discussed between investors and startups founders

This participatory collaboration between audience members and the panel gave way to a lot of excellent examples of good and bad practices seen within the different countries around Europe. The goal of this session was to start the discussion on these key issues and to start understanding what are some of the best practices we can take from different countries to apply to our own way of investing. Though there is no one solution as this topic ranges from a myriad of different issues, it is important to develop different tools so that you can manage them if/when they occur.

This insightful session brought together topics that are not properly discussed within the Angel Investment ecosystem. This marks the beginning in a movement spearheaded by the EBAN Gender community to tackle gender disparity within the industry and go over issues that are not often recognised. These efforts will continue to be showcased in the upcoming sessions and European Angel Investor Summit for which it has become a core pillar within the topics taking place during the event.

If you would like to participate in these sessions make sure you join us at the European Angel Investment Summit in Brussels, Belgium on October 15 – 16, in which gender will once again be a core topic throughout the entire event.

Sign Up To The Summit Here

26 women entrepreneurs from across Europe and Central Asia will attend the EXPO Capital Quest event co-organized by UN Women Regional Office for Europe and Central Asia and EBAN at the annual EBAN Congress 2024 on 20 – 22 May in Talinn, Estonia.

Within the framework of the Memorandum of Understanding signed in 2023, UN Women and EBAN continue their close partnership to support women entrepreneurs and investors in the startup ecosystem in Europe. This year, UN Women’s annual EXPO Capital Quest event will take place under the EBAN Congress 2024 in Talinn, Estonia, where selected 13 finalist women entrepreneurs from the region will have the opportunity to pitch their businesses to renowned investors and get exposed to top international angels.

The event will also provide an opportunity to women-led startups to expand their networks, link with like-minded entrepreneurs and businesspeople, and exchange knowledge and experiences with international experts.

EXPO Capital Quest 

EXPO Capital Quest is the final phase of the Women’s Entrepreneurship EXPO, a unique partnership platform to promote women’s entrepreneurship ecosystem building in the Europe and Central Asia region, led by UN Women Regional Office for Europe and Central Asia in partnership with European Bank for Reconstruction and Development (EBRD) and Yıldız Holding as part of the Women’s Entrepreneurship Accelerator supported by Mary Kay Inc.

About Angels for Women

Angels for Women is the first mostly-women Business Angels Network focused on investing in female-led startups.

Founded in 2018 by AXA Italy and Impact Hub Benefit Corporation, the Network has grown to include over 70 Business Angels, + 90% of whom are women,  and has channeled over 800,000 euros into investments. Its portfolio features 14 startups spread across five diverse sectors.

Why Angels for Women

We firmly believe that diversity is a factor of growth and development and want to be at the forefront of reducing the gender gap in the field of innovation and business.

Motivated by this strong belief, we are committed to reducing the gender gap by urging mostly  women, but also men, to support other women. This effort aims to reduce the gender gap both in the business angel ecosystem and in the entrepreneurship sector, contributing to economic vitality. Indeed, female business angels, though in minority, tend to outperform, and the same is true for women-majority startups: despite constituting only 14% of the total in Italy, they achieve better results both in terms of revenue and the likelihood of rapid growth.

What we do

Angels for Women primarily conducts investment activities, first scouting, screening and due diligence, but also provides training and actively participates in recruitment and dissemination by attending and promoting events, conferences, workshops, and seminars focused on angel investing and women’s entrepreneurship.

Investment process

The investment process unfolds through several stages, starting with the scouting of entrepreneurial projects, followed by an initial pre-screening phase, and leading up to the selection stage, where our committee selects the startups to be presented to our members during the four annual meetings. At each meeting, 3 startups and all its founders present their projects to A4W members, who can express a €5k minimum soft commitment. With €50k of cumulative interest  reached we proceed with the identification of a Deal Champion who will lead the Due Diligence. If the results of the Due Diligence are positive, those who expressed a Soft Commitment translate it into Hard Commitment and proceed with the investment, usually through an entirely digital trust. After the investment is completed, the startups are requested to produce a quarterly report and a call every six months to update the investors. Each year, we assess over 150 women-led startups and since 2019, our database has expanded to include more than 600 startups and founders. As of now, we have invested more than €840.000 in 14 startups.

Education

Our goal is to ensure that all our members can acquire the needed knowledge to fully participate to Angels for Women‘s social life.

Our training sessions are led by experienced members of our team, partners or external professionals with a strong experience in angel investing. For this purpose, with Impact Hub Benefit Corporation we developed the executive courses “How to Become a Business Angel” and “How to Become a Deal Champion.” The former is organized twice a year over 5 weeks and encompasses topics from what it means to become a business angel to how to evaluate startups to recent trends in the market. The latter is organized once a year and includes sessions related to the Due Diligence and the exit.

Beyond these executive offerings, we provide our members with the “Lunch & Learn” webinars, which are targeted learning sessions on specific topics. These are live-streamed during lunch hours, allowing participants to engage deeply with a broad spectrum of subjects. Topics covered range from navigating investment trends in web3 and A4W’s tools and services effectively, leveraging our partner EBAN’s platform, and exploring opportunities for female entrepreneurship provided by Invitalia.

Recruiting, scouting and dissemination activities

For us, supporting female leadership within startups and companies means increasing the number of women embarking on a journey in angel investing and, with them and the many national networks, keeping the conversation alive. For this reason, in the last two years, we have participated in over 50 events, conferences, workshops, and seminars.  We are also continuously dedicated to scouting female-led startups and ensuring a rich and valuable deal flow. This is achieved by serving as judges in key national and international competitions targeting startups, as well as participating in demo days and informal events of many organizations.

Our partners

Angels for Women has access to an extensive network of partners that includes key players on both a national and international level across four strategic categories: investments, women empowerment, startups, and innovation networks.
Together, we are committed to creating a more equitable and diverse ecosystem.

Business Angels: Why Joining Angels for Women

Joining Angels for Women empowers you to actively drive the change. Our members enjoy a broad spectrum of services and opportunities. Highlights include participation in our four annual pitch events, access to a database featuring over 600 female-led startups, educational programs, discounted event fees, and preferential rates for financial services. Furthermore, A4W members can enhance their visibility through our extensive communication channels, including those of our partners, and by serving as A4W spokespersons at various events, conferences, and workshops.

Startups: When and How to Apply

Angels for Women takes into consideration applications from companies that are run by women or that mainly focused on female customers. These companies must have at least one woman in an operational role at the managerial level, in particular female governance must be able to influence the strategic choices of the company through their corporate role or through participation in the share capital.

Submissions are open all year round and for each plenary meeting the screening committee selects 3 startups to be presented.

For more detailed information about the submission and screening procedures, as well as the 2024 calendar, please visit our website.

Let’s connect

Email address: info@angels4women.com

Web site: https://angels4women.com/

Linkedin: https://www.linkedin.com/company/angels4women/

top women angels list by EBAN

We are excited to share the remarkable outcomes of the SUPERNOVAS Business Angels Training Programme, an initiative to foster gender diversity in angel investing, developed by the EIT Community with the support of EBAN. EBAN helped design the course content and selected the expert trainers. Supernovas Business Angel Academy has successfully equipped female participants with the skills needed to excel as angel investors and has given rise to a vibrant community that transcends borders.

The SUPERNOVAS Initiative: A catalyst for change

The SUPERNOVAS Business Angels Training Programme is a key component of the Supernovas Women Investment Network, an EIT Community initiative. This network serves as a hub for female investors, providing opportunities to learn, grow, access investments in female-led startups, and expand professional networks within the vast EIT innovation ecosystem.

Courses tailored to your needs

Designed with the unique needs of female investors in mind, the program offered two courses catering to varying experience levels: the Beginner’s Course for junior business angels with 0-5 investments and the Expert’s Course for senior business angels with 6 or more investments. The courses covered a range of topics, including understanding the startup lifecycle, valuing startups, due diligence, deal structuring, legal aspects, and portfolio strategies.

Our statistics tell the story!

The success of the SUPERNOVAS initiative is reflected in the numbers:

• Certifications: A total of 70 female business angels completed successfully the rigorous training, emerging as certified angel investors ready to make impactful contributions to the entrepreneurial world.
• Global Reach: Over 160 attendees participated in the live sessions, representing more than 22 different countries. This diverse and global engagement speaks to the program’s success to transcend geographical boundaries.
• Content Creation: The program delivered an extensive 20 hours of content, spread across 12 hours for our seniors and 8 for juniors. This wealth of knowledge empowers participants to make strategic investment decisions and excel in their roles as angel investors.
• Engagement and Interaction: Each class featured a 10-question questionnaire, totalling over 100 thought-provoking questions. This interactive approach ensured active participation and a deeper understanding of the material.

Networking opportunities ahead!

The programme also provided participants with the unique opportunity to connect with successful angel investors, engage in case studies, and in some instances, meet entrepreneurs for firsthand exchanges. This practical exposure enhances the learning experience and prepares participants for the dynamic world of angel investing.

The SUPERNOVAS Business Angels Training Programmes have not just trained individuals; they’ve created a global community of empowered and certified angel investors, ready to make a lasting impact on the entrepreneurial landscape. As we celebrate the success of this initiative, we look forward to witnessing the positive change these women will bring to the world of angel investing. 

In light of the success of this initiative, we are pleased to announce that as there has been a lot of demand for participation and we are currently exploring the possibility of launching a second season.

The third edition of the UN Regional Women’s Entrepreneurship EXPO 2023 on the 17 November 2023 was an enlightening session with our very own Vice President, Selma Prodanovic, discussing ‘Being a Woman in the Start-up World.’

In this session, Selma underscored the critical role we play – recognizing gender equality not only as a challenge but as a pivotal solution. She also mentioned the power of understanding and navigating challenges when embarking an entrepreneurial adventure, leaning on support for a smoother entrepreneurial ride.

Selma urged women to embrace their unique role in the startup world. Rather than viewing perceived weaknesses as hindrances, she encouraged turning them into strengths, recognizing the exceptional value they bring. These are some of the key highlights of the amazing event:

-Gender Equality as a Solution:
Selma emphasised that gender equality is both a problem and a solution. She urged the audience to recognize their role in addressing this issue.

-The Startup Journey:
She likened the startup journey to driving a bumpy road in the dark. It’s challenging, especially in innovative spaces, but as more people join (co-founders, investors, etc.), the journey becomes smoother.

-Exceptional Women in Startups:
She acknowledged that being a woman in the startup world, especially in male-dominated fields, makes you an exception. She encouraged women to see themselves as role models and to turn perceived weaknesses into strengths.

-Investing in Women-led Startups:
Selma presented compelling statistics on the performance of female-only startups, emphasising higher returns and revenue. She highlighted the importance of changing the perception of women as investors and encouraged women to perceive themselves as investors.

-Changing the Narrative:
At the end of the session, Selma stressed the need to change the narrative around women in entrepreneurship, moving from discussing challenges to focusing on solutions. She urged women to be visible, dare to dream big, and become role models for the next generation.
Selma’s Mission – The Selma Effect: Selma expressed her mission to change the way women are perceived and spoke about the importance of empowering women to create a better future. She invited the audience to connect with her on LinkedIn for opportunities and workshops.

It was a great session and we look forward to future collaborations with UN Women!
You can see the MoU between EBAN and UN Women here.

The event was organized by the UN Women Regional Office for Europe and Central Asia, in partnership with European Bank for Reconstruction and Development (EBRD) and Yıldız Holding as part of the Women’s Entrepreneurship Accelerator supported by Mary Kay Inc

Inspiring developments unfolded at the recent UNESCO Regional Forum on “Angel Investing: The Missing Link towards an Innovation Economy in the Arab Region.” EBAN, represented by board member Dr. Nicolas Rouhana, had a chance to enter the discussions that centred on the crucial role of business angel investors and the challenges faced by women entrepreneurs in the Arab region and globally.

Key Takeaways from the Forum:

1. Recognition of Challenges: The forum, opened by Dr. Nuria Sanz of UNESCO Cairo, set the stage for acknowledging the challenges women entrepreneurs face. Dr. Nazar Hassan, Dr. Raghu Surya, and Dr. Nicolas Rouhana led insightful working sessions that identified barriers such as the glass ceiling, cultural norms, and a lack of support for women at the beginning of their entrepreneurial journey.

2. EBAN’s Strategic Approach: Nicolas Rouhana, a board member of EBAN, outlined EBAN’s strategy for achieving a Gender-Balanced Angel Investing Ecosystem by 2030 as described in our manifesto. This includes the establishment of the EBAN Gender Community, publications, webinars, the SUPERNOVAS course in collaboration with EIT,  and the collaboration with UN Women.

3. Spotlight on LWAF Success: Nicolas presented the success story of the Lebanese Women Angel Fund (LWAF), demonstrating the positive impact of women-only programs in entrepreneurship. The LWAF model, designed to support women entrepreneurs in Lebanon, serves as a beacon of success and a potential template for similar initiatives.

4. Launching AWABA: Following two days of collaborative discussions, the Arab Women Association for Business Angels (AWABA) was established. This marks a significant step toward fostering a collaborative regional ecosystem that supports women entrepreneurs in finding financial resources and mentorship.

Looking Ahead:

EBAN is committed to supporting AWABA’s objectives, connecting with stakeholders, providing mentoring and capacity-building programs, raising awareness, and leveraging collective efforts for regional impact. Stay tuned for more updates as we continue our journey toward a future where women entrepreneurs in the MENA region thrive, innovate, and lead.

EBAN is very pleased to announce that EBAN’s President Emeritus, Candace Johnson, was received by EU Commission President von der Leyen this past Tuesday, 07 November. During the meeting, von der Leyen paid tribute to her work as a founding member of the Global Board Ready Women (GBRW), advancing the “Women on Boards” initiative, which subsequently became European law on 22 November 2022.

The official press release follows below:

EU Commission President Ursula von der Leyen pays tribute to women pioneers who supported the Women on Boards directive

Brussels, Tuesday 07 November 2023:  President von der Leyen paid tribute today to the work done by the Global Board Ready Women (GBRW) Task Force which came into being in 2012 to support the directive to apply 40 % Gender Diversity Quotas for all publicly listed corporations in Europe proposed by former EC Vice President Viviane Reding during her third mandate from 2010 – 2014  as Commissioner for European Commissioner for Justice, Fundamental Rights and Citizenship

The GBRW Task Force brought together executive women leaders from the private, academic, and public sectors who refused to let stand the remark frequently made at the time that “there were not enough qualified women to fill the Board Positions”.  By enlisting top European Business Schools with their alumnae lists of C-level executives, corporate governance professors and Boards of Governors, filled with industry captains from around the world, they created a data base of more than 8000 Board Ready women, thus dispelling the myth that there were not enough women to fill the board positions.  They also created the first global criteria for Independent Board Members, regardless of gender and applied these criteria in vetting the board ready women candidates presented for consideration by the European publicly listed corporations.

Besides the Business Schools, the GBRW worked tirelessly with professional women associations, the Association of Executive Search Consultants, and the Forte Foundation to promote the “Women on Boards” Directive which came into law ten years after the GBRW began their work on 22 November 2022.

The tribute took place on the eve of the “Global Board Ready Women Leadership Conference” organized by Forté Foundation and Phoenix Executive in Brussels on 08 November to analyze the progress made by the initiative and to prepare the next generation of women corporate leaders.

The “Gender Bias in Angel Investing” Webinar, organised by the EBAN Gender Community, captivated international audiences. This event, held in preparation for the European Angel Investment Summit, provided a forum to discuss a critical issue in the world of investment: gender bias. With an emphasis on actionable strategies, this webinar aimed to unveil the “how” behind mitigating gender bias in angel investing. Let’s delve into the main learnings and takeaways from this insightful session:

1. A Shift from “Why” to “How”: 

The webinar’s distinctive focus on “how” to combat gender bias distinguished it from previous discussions that had primarily explored the “why.” Selma Prodanovic, Vice President of EBAN, underscored the importance of advancing gender equity within angel investing. The event also marked the launch of the EBAN Manifesto for a Gender-Balanced Angel Investing Ecosystem, advocating the manifold benefits of having women co-investors and investing in female-led startups.

2. Insights from the Speakers:

   – Gabriele Tatzberger (Head of Startup Services at Vienna Business Agency): Gabriela expounded on her role as the Director of Startup Services at the Vienna Business Agency, which is committed to supporting local and international startups through grants, real estate, and services. Importantly, the agency places diversity and inclusivity at the heart of its mission.

   – David Fogel (Co-founder of Alma Angels): David shared the mission of Alma Angels, focusing on tech-driven and IP-driven startups with ambitious women at the helm. Alma Angels operates as a community where individual angels make investment decisions, with a strong emphasis on sharing deal flow to broaden investor access.

   – Cécile Sevrain (Co-founder & Head of Impact Measurement and Management, TIIME): Cécile highlighted the work of TIIME, an impact catalyst specialising in impact investing with a focus on Justice, Equity, Diversity, and Inclusion (JEDI). She underscored the significance of recognizing and addressing personal biases and the need for diversity among investors.

 

3. Tools and Initiatives to Overcome Gender Bias:

   – Unconscious Bias Training: Gabriela discussed the Vienna Business Agency’s use of an unconscious bias tool to raise awareness among team members and jury members about biases that may influence their decision-making processes.

   – The Role of Empathy: Cécile introduced immersive experiences that facilitate individuals’ ability to empathise with the challenges faced by others, particularly those tied to gender diversity.

   – Transparency and Data: David emphasised the crucial role of transparent data related to gender diversity within startups and investment firms. He recommended resources such as Suzanne Beagle’s work, which maps investment funds focusing on women-led startups.

   – Educational Programmes: The webinar introduced the SUPERNOVAS Business Angel Training program, set to launch in October. This program offers investors a valuable opportunity to enhance their knowledge and skills.

 

4. Challenges and Future Directions:

   – Transparent Data and Action-Oriented Initiatives: Addressing gender bias necessitates transparent data, action-oriented initiatives, and systemic changes. The challenge lies in driving comprehensive change in an environment marked by deeply ingrained biases.

   – The Complexity of Gender Bias: While progress is being made, addressing gender bias in angel investing remains complex. Initiatives to promote inclusivity and diversity should extend beyond just investing in women; they should include all underrepresented groups.

 

The “Gender Bias in Angel Investing” webinar provided a global stage for a crucial conversation about gender bias in angel investing. By focusing on actionable strategies and insights, it offered a deeper understanding of how to combat this issue effectively. As the world of angel investing evolves, these lessons serve as a beacon, guiding the way toward a more equitable and diverse investment landscape. While challenges persist, the commitment to inclusivity and diversity in angel investing is stronger than ever.